About CAS

Capital Advisory Services (“CAS”) was established in Bangkok, in 2001. In December 2017, CAS changed its company name to CAS Capital


CAS finds, closes, co-invests & manages deals for foreign institutional investors making real estate backed investments in Thailand across the capital structure in assets, debt, NPLs, companies or joint ventures


- CAS, through its international investors, is able to access large real estate backed senior & hybrid private credit facilities to corporates & property owners in Thailand


- CAS was the first special servicer in Thailand to be internationally rated (Fitch) & since establishment, has managed over 40,000 mostly debt-based investments, on behalf of overseas institutional investors


- CAS is committed to integrating ESG principles throughout our organization, to make a positive social impact and to expand the opportunities we create within our business


- In December 2016, US listed, alternative asset management firm, Apollo Global Management, acquired 49% of CAS


- From 2017 to 2023, CAS invested US$500 million on behalf of foreign investors, achieving a 28% return from real estate


- In 2023, Apollo exited CAS through a Management Buyout


- CAS is capital raising as the Thai real estate market distressed cycle takes shape in 2024



Independent real estate asset management specialists and loan servicers, established in Thailand in 2001

- Apollo with partners made their first Thai venture in 2017, investing US$240m in MahaNakhon in Bangkok CBD,

  Thailand’s tallest tower


- The transaction was sourced by, executed, managed & closed with support from CAS. In addition to being the

   Construction Monitoring Agent, CAS also acted as Collateral Agent, Inter-creditor Agent & Servicer


-  In 2018, CAS established a new NPL venture with a leading US investment bank & has acquired a number of NPL

   portfolios from Thai banks


- In 2019, CAS acquired & redeveloped a 36-storey 90,000 sq. m GFA office & retail tower in Bangkok, which was completed in 2021


- CAS is a locally owned Thai company able to own land & undertake business restricted from foreign investor participation